{"id":384383,"date":"2019-05-30T17:00:08","date_gmt":"2019-05-30T17:00:08","guid":{"rendered":"https:\/\/wncen.com\/?p=384383"},"modified":"2024-06-11T07:19:38","modified_gmt":"2024-06-11T07:19:38","slug":"bitcoin-may-be-up-14-9-but-tom-lee-expects-real-fomo-after-10000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-may-be-up-14-9-but-tom-lee-expects-real-fomo-after-10000\/","title":{"rendered":"Bitcoin May be up 14.9% But Tom Lee Expects \u201cReal FOMO\u201d after $10,000"},"content":{"rendered":"<ul>\n<li><em>BTC is steady above $8,500, add 14.9 percent<\/em><\/li>\n<li><em>Prices in an uptrend but real FOMO is after $10,000 says Tom Lee<\/em><\/li>\n<\/ul>\n<p><em>Tom Lee is an ardent Bitcoin supporter. Contrary to the mainstream view, he believes real FOMO for BTC will begin after prices rally past the psychological $10,000 mark. Currently, BTC is up 14.9 percent from last week\u2019s close.<\/em><\/p>\n<h2>Bitcoin Price Analysis<\/h2>\n<h3>Fundamentals<\/h3>\n<p>A healthy blend of growing awareness, coupled with the involvement of industry heavyweights and improving <a href=\"https:\/\/wncen.com\/2013\/12\/11\/fidelity-investments-now-allowing-clients-put-bitcoin-iras\/\" target=\"_blank\" rel=\"noopener noreferrer \">infrastructure,<\/a> is somehow giving Bitcoin momentum. At some point this week, there was an expected reversal from the $9,000 mark. That is normal. Prices do expand and shrink, depending on supply and demand dynamics.<\/p>\n<p>However, it is about the resilience of buyers. How they will maintain demand, and keep prices above key supports is what counts. After all, demand is a measure of participation. Although we cannot refute that buyers are back as trading volumes surge, Fundstrat Global Head Analyst <a href=\"https:\/\/wncen.com\/2019\/05\/20\/tom-lee-bitcoins-move-back-to-8000-confirms-the-end-of-crypto-winter\/\" target=\"_blank\" rel=\"noopener noreferrer \">Tom Lee<\/a> is calling for patience.<\/p>\n<p>While responding to a tweet from Financial Times\u2019 Adam Samson, he said the real FOMO trigger is when BTC break above the $10,000 psychological mark. To him, that\u2019s when BTC will edge past \u201clevel 10 <a href=\"https:\/\/wncen.com\/2019\/05\/22\/why-the-fomo-bro\/\" target=\"_blank\" rel=\"noopener noreferrer \">FOMO<\/a>.\u201d The level is from Fundstrat\u2019s study that compartmentalizes the level of BTC investor involvement from 1 to 10.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">At what price will see FOMO from those who gloated about 90% crash in <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a>?<\/p>\n<p>Military term, SWAG (scientific wild-assed guess). <\/p>\n<p>My SWAG is $10,000 is price that causes FOMO from those who saw <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#bitcoin<\/a> as dead forever. <\/p>\n<p> POLL: <br \/>At what price do we see FOMO?<\/p>\n<p>&mdash; Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) <a href=\"https:\/\/twitter.com\/fundstrat\/status\/96630784?ref_src=twsrc%5Etfw\" rel=\"nofollow\">May 12, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Per Tom Lee&#8217;s calculations, that is when \u201ca price level only seen 3 percent of all days [and] mathematically equivalent to exceeding $BTC $4,500 in 2017.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Actually the point of the chart is to say \u201creal FOMO\u201d probably starts when <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#bitcoin<\/a> exceeds $10,000 as that is a price level only seen 3% of all days&#8230;<\/p>\n<p>&#8230;mathematically equivalent to exceeding <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> $4,500 in 2017<\/p>\n<p>Looking back, that price was a level that indeed triggered FOMO<\/p>\n<p>&mdash; Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) <a href=\"https:\/\/twitter.com\/fundstrat\/status\/27200000?ref_src=twsrc%5Etfw\" rel=\"nofollow\">May 29, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h3>Candlestick Arrangement<\/h3>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-384385\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Bitcoin-Daily-Chart-May-30.png?resize=1280%2C1024\" alt=\"Bitcoin BTC\" width=\"1280\" height=\"1024\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Bitcoin-Daily-Chart-May-30.png?w=1280 1280w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Bitcoin-Daily-Chart-May-30.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Bitcoin-Daily-Chart-May-30.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Bitcoin-Daily-Chart-May-30.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Bitcoin-Daily-Chart-May-30.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Bitcoin-Daily-Chart-May-30.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>Stable above $8,500, BTC is in an uptrend. At the time of writing, the world\u2019s most valuable digital asset is shrugging off sellers. It is up 14.9 percent from week to date, thereby affirming the presence of optimistic buyers.<\/p>\n<p>In line with previous <a href=\"https:\/\/wncen.com\/2019\/05\/29\/bitcoin-bulls-are-steadfast-20000-is-a-conservative-btc-target\/\" target=\"_blank\" rel=\"noopener noreferrer \">BTC\/USD price analyse<\/a>s, traders should search for loading opportunities on dips. Modest targets lie at $9,000, which is this week\u2019s high. However, any clearance could see BTC surge to $10,000 or higher by the end of Q3 2019.<\/p>\n<p>Technically, <a href=\"https:\/\/wncen.com\/2019\/05\/28\/bitcoin-may-experience-sizable-correction-before-10k-btc-tops-out-traders\/\" target=\"_blank\" rel=\"noopener noreferrer \">BTC<\/a> is within a breakout pattern and although in consolidation within May 26th trade range, rejection of lower prices hints of underlying demand.<\/p>\n<p>In that case, risk-averse traders can wait for close above $9,000 at the back of high trading volumes exceeding recent averages.<\/p>\n<h2>Technical Indicator<\/h2>\n<p>Because of candlestick arrangement, May 26<sup>th<\/sup> bull bar anchors this BTC trade plan. Safe the low trading volumes, it is wide-ranging, and probably is laying the foundation that could see prices expand beyond $9,000.<\/p>\n<p>In a similar fashion, the conservative traders, as aforementioned, can only initiate longs if accompanying trading volumes propelling BTC above $9,000 exceeds 19k.<\/p>\n<pre><a href=\"https:\/\/www.tradingview.com\/\" rel=\"nofollow\"><strong><em>Chart<\/em><\/strong><\/a><strong><em> courtesy of Trading View. Image Courtesy of Shutterstock<\/em><\/strong><\/pre>\n","protected":false},"excerpt":{"rendered":"<p>BTC is steady above $8,500, add 14.9 percent Prices in an uptrend but real FOMO is after $10,000 says Tom Lee Tom Lee is an ardent Bitcoin supporter. Contrary to the mainstream view, he believes real FOMO for BTC will begin after prices rally past the psychological $10,000 mark. Currently, BTC is up 14.9 percent from last week\u2019s close. Bitcoin Price Analysis Fundamentals A healthy blend of growing awareness, coupled with the involvement of industry heavyweights and improving infrastructure, is somehow giving Bitcoin momentum. At some point this week, there was an expected reversal from the $9,000 mark. That is normal. Prices do expand and shrink, depending on supply and demand dynamics. However, it is about the resilience of buyers. How they will maintain demand, and keep prices above key supports is what counts. After all, demand is a measure of participation. Although we cannot refute that buyers are back as trading volumes surge, Fundstrat Global Head Analyst Tom Lee is calling for patience. While responding to a tweet from Financial Times\u2019 Adam Samson, he said the real FOMO trigger is when BTC break above the $10,000 psychological mark. To him, that\u2019s when BTC will edge past \u201clevel 10 FOMO.\u201d The level is from Fundstrat\u2019s study that compartmentalizes the level of BTC investor involvement from 1 to 10. At what price will see FOMO from those who gloated about 90% crash in $BTC? Military term, SWAG (scientific wild-assed guess). My SWAG is $10,000 is price that causes FOMO from those who saw #bitcoin as dead forever. POLL: At what price do we see FOMO? &mdash; Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) May 12, 2019 Per Tom Lee&#8217;s calculations, that is when \u201ca price level only seen 3 percent of all days [and] mathematically equivalent to exceeding $BTC $4,500 in 2017.\u201d Actually the point of the chart is to say \u201creal FOMO\u201d probably starts when #bitcoin exceeds $10,000 as that is a price level only seen 3% of all days&#8230; &#8230;mathematically equivalent to exceeding $BTC $4,500 in 2017 Looking back, that price was a level that indeed triggered FOMO &mdash; Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) May 29, 2019 Candlestick Arrangement Stable above $8,500, BTC is in an uptrend. At the time of writing, the world\u2019s most valuable digital asset is shrugging off sellers. It is up 14.9 percent from week to date, thereby affirming the presence of optimistic buyers. In line with previous BTC\/USD price analyses, traders should search for loading opportunities on dips. Modest targets lie at $9,000, which is this week\u2019s high. However, any clearance could see BTC surge to $10,000 or higher by the end of Q3 2019. Technically, BTC is within a breakout pattern and although in consolidation within May 26th trade range, rejection of lower prices hints of underlying demand. In that case, risk-averse traders can wait for close above $9,000 at the back of high trading volumes exceeding recent averages. Technical Indicator Because of candlestick arrangement, May 26th bull bar anchors this BTC trade plan. Safe the low trading volumes, it is wide-ranging, and probably is laying the foundation that could see prices expand beyond $9,000. In a similar fashion, the conservative traders, as aforementioned, can only initiate longs if accompanying trading volumes propelling BTC above $9,000 exceeds 19k. Chart courtesy of Trading View. Image Courtesy of Shutterstock<\/p>\n","protected":false},"author":384,"featured_media":383571,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,10667],"class_list":["post-384383","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-tom-lee"],"acf":[],"yoast_head":"\n<title>Bitcoin May be up 14.9% But Tom Lee Expects \u201cReal FOMO\u201d after $10,000<\/title>\n<meta name=\"description\" content=\"BTC is steady above $8,500, add 14.9 percent Prices in an uptrend but real FOMO is after $10,000 says Tom Lee Tom Lee is an ardent Bitcoin supporter.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/wncen.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin May be up 14.9% But Tom Lee Expects \u201cReal FOMO\u201d after $10,000","url":"http:\/\/wncen.com\/news\/bitcoin-may-be-up-14-9-but-tom-lee-expects-real-fomo-after-10000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-may-be-up-14-9-but-tom-lee-expects-real-fomo-after-10000\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/bitcoinprice.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/bitcoinprice.jpg?fit=1920%2C1277"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","tom lee"],"dateCreated":"2019-05-30T17:00:08Z","datePublished":"2019-05-30T17:00:08Z","dateModified":"2024-06-11T07:19:38Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin May be up 14.9% But Tom Lee Expects \\u201cReal FOMO\\u201d after $10,000\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-may-be-up-14-9-but-tom-lee-expects-real-fomo-after-10000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-may-be-up-14-9-but-tom-lee-expects-real-fomo-after-10000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2019\\\/05\\\/bitcoinprice.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2019\\\/05\\\/bitcoinprice.jpg?fit=1920%2C1277\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"tom lee\"],\"dateCreated\":\"2019-05-30T17:00:08Z\",\"datePublished\":\"2019-05-30T17:00:08Z\",\"dateModified\":\"2024-06-11T07:19:38Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/bitcoinprice.jpg?fit=1920%2C1277","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/384383"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=384383"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/384383\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/383571"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=384383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=384383"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=384383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}